BOS International (Australia) Ltd v Babcock & Brown International Pty Ltd [2011] NSWSC 1382

Supreme Court New South Wales

Medium Neutral Citation: BOS International (Australia) Ltd v Babcock & Brown International Pty Ltd [2011] NSWSC 1382 Hearing dates: 25-26 October 2011 Decision date: 11 November 2011 Jurisdiction: Equity Division - Commercial List Before: Rein J Decision: 1. Order the defendant to provide to the plaintiff copies of all director and officer insurance policies sought by the plaintiff. 2. Order the defendant pay the plaintiff's costs of these proceedings. Catchwords: CONTRACTS - Construction and interpretation of contracts - where the contract between the borrower and lender in respect of a substantial commercial loan contains a clause that allows the lender to request the borrower to provide "other information relating to" the "assets" and "financial position" of the borrower - where the lender sought copies of directors and officers insurance policies pursuant to that clause - whether the directors and officers policies insuring the defendant and associated entities and the officers and directors of those entities were required to be produced pursuant to that clause - the nature of an insurance policy - principles of construction of a commercial contract - matrix of circumstances - canons of construction - "expressio unius est exclusio alterius" - "expressum tacit cessare tacitum" - "uniformity and certainty" Legislation Cited: Companies (Acquisition of Shares) (Queensland) Code Corporations Act 2001 (Cth) Insurance Contracts Act 1984 (Cth) Cases Cited: Bastion v Gideon Investments Pty Ltd (in liq) [2000] NSWSC 939; (2000) 35 ACSR 466 Beneficial Finance Corporation v Price Waterhouse (1996) 68 SASR 19 Bradley v Eagle Star Insurance Co Ltd [1989] AC 957 Codelfa Construction Pty Ltd v State Rail Authority (NSW) [1982] HCA 24; (1981-1982) 149 CLR 337 First Provincial Building Society Ltd v Federal Commissioner of Taxation (1995) 128 ALR 118 Franklins Pty Ltd v Metcash Trading Ltd [2009] NSWCA 407; (2009) 76 NSWLR 603 Grosvenor Hill (Queensland) Pty Ltd v Barber (1994) 12 ACSR 646 Hide & Skin Trading Pty Ltd v Oceanic Meat Traders Ltd (1990) 20 NSWLR 310 Korda (Receiver and Manager); Re South Eastern Secured Investments Limited (Receivers and Managers Appointed) [2010] FCA 1417; (2010) 191 FCR 63 Meteyard v Love [2005] NSWCA 444; (2005) 65 NSWLR 36 Nordland Papier AG v Anti-Dumping Authority (1999) 93 FCR 454 Post Office v Norwich Union Fire Insurance Society Ltd [1967] 2 QB 363 PMT Partners Pty Ltd v Australian National Parks & Wildlife Service [1995] HCA 36; (1995) 184 CLR 301 Prudential Insurance Company v Inland Revenue Commissioners [1904] 2 KB 658 Re Interchase Corporation Ltd (1996) 68 FCR 481 Re Irismay Holdings Pty Ltd [1996] 1 Qd R 172 Re Pine Vale Investments Ltd [1989] 1 Qd R 324 State Bank of South Australia v Smoothdale (No 2) Ltd (1993) 174 LSJS 378 The Movie Network Channels Pty Ltd v Optus Vision Pty Ltd [2010] NSWCA 111 Timic v Hammock [2001] FCA 74 Toll (FGCT) Pty Ltd v Alphapharm Pty Ltd (2004) 219 CLR 165 Workers Compensation Board of Queensland v Technical Products Pty Ltd (1988) 165 CLR 642 Texts Cited: D Derrington & R S Ashton, The Law of Liability Insurance, 2nd ed (2005) K Lewison, The Interpretation of Contracts, (2007) MacGillivray on Insurance Law, 11th ed (2008) A Paolini & D Nambisan, Directors' and Officers' Liability Insurance, (2008) Category: Principal judgment Parties: BOS International (Australia) Ltd (plaintiff) Babcock & Brown International Pty Ltd (defendant) Representation: D L Williams SC; J Knackstredt (plaintiff) R C A Higgins (defendant) Henry Davis York (plaintiff) Freehills (defendant) File Number(s): SC 2011/260538